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Having recently lost a Google contract that added tweets to the company's search results, Twitter is treading shaky waters in ongoing negotiations with Microsoft over a similar use arrangement.

According to All Things D's Liz Gannes, there are a few pain points over which the two companies are currently chatting. But, if successfully negotiated, Microsoft could ultimately land the keys to the real-time kingdom: long-term access to the real-time updates provided by both Facebook and Twitter, which would accompany the site's standard search results.

The two companies have six extra months to hammer out the details—Twitter signed real-time search contracts with Google and Microsoft in the fall of 2009, but Microsoft got a slightly longer timeframe than its big competition. Twitter is allegedly asking for an increased licensing fee for use of its real-time information: $30 million, or double the cost of the company's original contract with Microsoft.